for daytrading...which is most important to monitor for market movement?

Hey Don
Thank you for your reply as usually very helpfull
What would your advise be to a new trader
Should they learn to follow a certain sector or certain stocks(10) and be good at them - ?
 
Quote from Don Bright:
I like keeping the squawk box on from the S&P pit, they give a lot ot additonal information which I find helpful. My brother and I go nuts when it's not on, LOL.
Don
More...

Hi Don,

Which Squawk service do you subscribe too...?


<img src="http://www.enflow.com/p.gif">
 
MAYBE DON or somebody else can tell me how to calculate sp futures...I remember back in the early 90s,one guy at the quote terminal would calculate it by having an sp500 call and put option quote with the sp500 index indicator.Somehow you would subtract the price difference of one or both contracts and come up with a number(ie if it was less than 10 market was discount,greater than 10 it was at premium) that would indicate an imminent sell or buy...It actually worked very well.

Also i want to get a real time tick.
I used to have this on my dbc/quottrek machine in the early/mid 90s and it was great buy/sell indicator when it went -900 or +600...

I use td izone and my trading platform is quotetracker.
Im not super fancy and dont have the systems most of you guys have....Anyway if you know how i can get real time tick can you send a holler....thanks
 
Quote from ksonsinc:

Hey Don
Thank you for your reply as usually very helpfull
What would your advise be to a new trader
Should they learn to follow a certain sector or certain stocks(10) and be good at them - ?
More...

Don already answered that question ...in this thread!! See above. He recommends getting to know a few stocks very well.
 
Quote from dsq:

MAYBE DON or somebody else can tell me how to calculate sp futures...I remember back in the early 90s,one guy at the quote terminal would calculate it by having an sp500 call and put option quote with the sp500 index indicator.Somehow you would subtract the price difference of one or both contracts and come up with a number(ie if it was less than 10 market was discount,greater than 10 it was at premium) that would indicate an imminent sell or buy...It actually worked very well.

Also i want to get a real time tick.
I used to have this on my dbc/quottrek machine in the early/mid 90s and it was great buy/sell indicator when it went -900 or +600...

I use td izone and my trading platform is quotetracker.
Im not super fancy and dont have the systems most of you guys have....Anyway if you know how i can get real time tick can you send a holler....thanks
More...

Hmmm? Not sure what you're asking.."how to calculate S&P futures" ...we don't calculate, they are what they are, current trading prices. However, to determine Premium or discount to fair value (to read market movements), we simply take the spot price (SPX) and add fair value (check www.brighttrading.net/Tradinginfo.htm for today, normally www.stocktrading.com/Tradinginfo.htm ) this will result in "x". Then check to see if the current eMini ESH8 is trading, and see if you have a positive differential (PREM) or a negative differential (DISC). We use this same computation to determine pricing of our opening only orders (see Opening Orders thread). We don't need to check the options prices.

Regarding real time tick charts, there are several options available. I provide all of our traders with a spreadsheet that automatically keeps track of PREM and DISC via a DDE link to our RediPlus (Goldman Sachs) platform (www.redi.com). We can always use the actual Redi tick chart as well.


You are also making reference to NYSE TICK, which is simply the net of all the upticks and downticks on the Exchange traded stocks. And, yes, we look for directional reversals near the 900 level, positive or negative.

In our office, we also have real time Track Data, which has an excellent tick charts. I also keep a 10 minute chart of the Spoos up to see the overall daily movement/trend.

I'm not super fancy either, LOL. The above keeps things simple.

All the best,

Don

PS. I may submit this Q&A to my magazine, not sure if they'll use it, but is it ok with you to use just your alias?
 
Thanks Don...i meant calculate the sp500 premium or discount by seeing where certain in the money sp500 index options were trading at vs the sp500 index....
 
You must log in or register to reply here.
Back
Top